International

About 80% of the global art market by value takes place outside the UK. The largest art market in the world is the US with China in third place (after the UK) followed by France, Germany and Switzerland.

Many more nations have a rich art and antiques heritage with active auction, dealer, fair, gallery and museum sectors even if their market size by value is smaller.

Read the top stories and latest art and antiques news from all these countries.

The May 11-12 Geneva sale conducted by Phillips in association with watch consultancy Bacs & Russo includes one of the most complicated wristwatches of the pre-war era: the Vacheron Constantin minute repeater with retrograde calendar from 1940.

'Electricité', pictured below, is one of a limited edition portfolio of 10 photogravures after Man Ray’s Rayographs from a 1931 commercial commission from the artist by the Compagnie Parisienne de Distribution d’Electricité.

The early weeks of March proved a particularly busy time for one saleroom in the US. As well as sales featuring the medical and scientific collections of W Bruce Fye, reported in ATG No 2386, Bonhams New York (27.5/25/20/13.9%) also sold the seventh instalment of Eric Caren’s How History Unfolds on Paper collection online, and in itsMadison Avenue rooms offered Extraordinary Books & Manuscripts.